Beta distribution

[Neo]

I am trying to estimate the following equation (EViews 7):



where V_Pj and V_Rj are variables and min and max are the minimum and maximum values of V_Rj. a, b, v and w are least squares parameters and Λ(v, w) represents the beta distribution. I tried something using @beta (see below), but couldn't get it right. Any help would be appreciated.

Code: Select all

ls vpj_vrj=c(1)+c(2)*(((vrj-@min(vrj))^(c(3)-1))*((@max(vrj)-vrj)^(c(4)-1))/((@beta(c(3),c(4)))*((@max(vrj)-@min(vrj))^(c(3)+c(4)-1))))

[startz]

What goes wrong?

[Neo]

EViews says "Overflow or Illegal function call".

[startz]

Two possible things to try:

(1) Make sure you have the most recent patches for your copy of EViews.

(2) Try different starting values for the c() parameters.